U.S. commercial crude oil inventories increased by 16.3 million barrels to 471.4 million barrels.

Brent slid $1.13, or 1.3%, to $84.45 a barrel, WTI dropped $1.31, or 1.7% to $77.75.

Nonetheless, the IEA said global oil markets will likely remain in surplus in the first half of the year amid surprisingly robust output from Russia.

We can replace all crude oil with cellulosic biomass (corn stover, forest debris, etc.) liquid drop-in hydrocarbons if the conversion process uses massive external sources of heat and hydrogen.

Brent fell 86 cents, or 1%, to $85.53 a barrel, WTI was at $78.83 a barrel, down 89 cents, or 1.1%.

Россия в марте добровольно сократит добычу на 500 тыс. баррелей в сутки. Это будет способствовать восстановлению рыночных отношений.

China has imported about 2.3 million mt HSFO over December-January, about 235% higher compared to 687,000 mt during November-December, according to Kpler shipping data.

Brent rose $2.17, or 2.57%, to $86.67 a barrel, WTI were up $2.01, or 2.57%, at $80.07.

Moscow’s move deepens the 2 million barrel-a-day production cut announced late last year by OPEC+, which Russia leads along with Saudi Arabia.

Александр Новак подчеркнул, что позиции России и Ирана созвучны по целому ряду направлений международной повестки. Обе страны нацелены на равноправный, взаимовыгодный диалог и остаются надёжными деловыми партнёрами.

Для того, чтобы упорядочить информационные потоки между предприятиями ТЭК, обеспечить высокое качество используемых ими данных, а также перейти на качественно новый уровень оперативно-диспетчерского управления энергосистемой необходимо создать единую цифровую среду.

U.S. commercial crude oil inventories increased by 2.4 million barrels to 455.1 million barrels.

Brent rose 99 cents, or 1.2%, to $84.68 a barrel, WTI climbed 93 cents, or 1.2%, to $78.07.

India's oil imports from Russia are likely to continue to rise this year mainly because of the steeply discounted prices it is selling at, he said, and assuming there are "no further stringent actions by the Western countries targeting Russian oil."

spot price of Brent crude oil falls to an average of $82/b in 2H23 and $78/b in 2024.